Tuesday, February 7, 2017

The local bond market saw trading focused at the belly of the curve today with buying flows pushing yields down 2-7bps across the curve. Bids were firmer than Friday’s close even though a stronger than expected NFP figure at +2

Good Evening,

Today’s
trade recap by our trading desk:-

·The local bond market saw trading focused at the belly
of the curve today with buying flows pushing yields down 2-7bps across the
curve. Bids were firmer than Friday’s close even though a stronger than
expected NFP figure at +227k vs +180k expected. UST yields also came off
slightly as a result of lower average hourly earnings and higher unemployment
rate in tandem with a weaker USD.